Cloud Analytics Market Set to Grow with CAGR of 21%: Applications, Regional Analysis, Key Players

Market Overview

Cloud analytics is one of the services related to data management.  It helps in the collection of data from various remote sources known as cloud and analysis as per the requirement.  The main purpose of cloud analytics is to provide accurate information desired by the user.  Hence when the analysis is done, the data that is required is only analyzed and hence a lot of time and energy are saved.  Sometimes, the cost incurred in storing the data is also reduced.  Due to the increase in usage of IoT, a lot of data is generated daily.  This data has to be analyzed and important data has to be sorted out for future requirements.  This situation leads to demand for cloud analytics and hence drives the cloud analytics market towards growth.

Market Segmentation

The cloud analytics market can be segmented based on deployment, end-user, type of organization, pricing model, region, and solutions.  The deployment category can be divided into the hybrid cloud, private cloud, and public cloud segments.  The end-user category consists of government, banking, consumer electronics, education, healthcare, retail, media, and education segments. According to the type of organization, the market is divided into small and medium enterprises, and large enterprises. According to the solutions category, the market is bifurcated into cloud business intelligence (BI), data warehousing solutions (DWS), enterprise performance management (EPM), and risk, compliance, and analytics solutions. According to the regional category, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.  The pricing model category consists of pay per use and subscription-based model segments.

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Regional Classification

According to the solution category, the analytics solutions segment has the highest contribution to market growth.  According to the deployment category, the hybrid cloud segment contributes the maximum to the market growth. According to the regional category, North America dominates the market.  The segments of all other categories have their respective share in the market growth.

Industry News

The global analysis of the cloud analytics market states that the market is expected to reach 65.4 billion US Dollars at a CAGR of 21% by the end of 2025.  The adoption of digitalization, technological advancements, and increased usage of IoT (Internet of Things) are certain factors that lead to market growth.  The increased dependency on machine learning and artificial intelligence is also a factor resulting in market growth. However, the impact of the pandemic- COVID’19 was strong that the market faced a big hurdle. As people were more worried about their health, the focus on data analytics was nil.  This slowed the market growth. Further, as more and more sophisticated devices are in use, there is also an increase in the cyber security issue.  Loss of data may lead to many illegal activities like hacking of bank accounts due to which the account holder person may incur financial losses. Keeping track of illegal activities done over the internet became a challenging job.  Hence, cybersecurity issues will create a hindrance to market growth.  The strict policies may by the government hamper the market growth.

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TABLE OF CONTENTS

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH CLOUD ANALYTICS

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

3 MARKET DYNAMICS

3.1 INTRODUCTION

3.2 MARKET DRIVERS

3.3 MARKET CHALLENGES

3.4 MARKET OPPORTUNITIES

3.5 MARKET RESTRAINTS

4. EXECUTIVE SUMMARY…

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